Venus Concept ( (VERO) ) has issued an announcement.
Venus Concept Inc. successfully reduced its debt by exchanging $15 million of senior debt for equity, swapping the debt for shares of its Series Y preferred stock with Madryn Asset Management. This strategic financial move not only lowered the company’s total debt obligations significantly but also marked a key step in improving its capital structure. The transaction reflects continued confidence from Madryn in Venus Concept’s market leadership within the medical aesthetic technology sector and is seen as a positive advancement towards the company’s goal of long-term profitability.
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